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H Co. year-end balance sheets for 2016 and 2017 follow: 12/3/ 2016 BegRIE9 10,000 DiV 3,000 Ens 2017 Cash s 33,500 $13,000 N of Accounts
H Co. year-end balance sheets for 2016 and 2017 follow: 12/3/ 2016 BegRIE9 10,000 DiV 3,000 Ens 2017 Cash s 33,500 $13,000 N of Accounts receivable oP Inventory F Long-term investments 12,250 12,000 (700o tBuilding of Accumulated depreciation-building Inv Equipment or Accumulated depreciation-equipment oP Patents 29,750 (6,000) 20,000 (2,000)9250 45,000 (4,500) Total assets S105.750 $83.500 o Accounts payable Fin Dividends payable i Short-term notes payable s 5,000 1,000 4,000 32,000 39,000 6,000 3,000 5,000 8,500 25,000 FiA Long-term notes payable Fin Common stock 30,000 3,000 Paid-in capital in excess of par Retained earnings Total liabilities and stockholders' equity $105,750 $83,500 Additional data for 2017: 1. Long-term investments were sold at $1,700 above their cost. 2. On January 1, 2017, the building was completely destroyed by a flood. Insurance proceeds were $30,000 Equipment costing $11,000 that was 40% depreciated was sold for $2,500. 4. 3. Common stock with a par value of $5,000 and a market value of $6,000 was issued to pay part of the long-term note. 5. A new long-term note was issued for the acquisition of equipment. 6. Equipment was purchased for cash. 7. Dividends of $7,000 were declared during 2017. Prepare a statement of cash flows for H Co. for 2017, including any significant non-cash transactions after the reconciliation. 4
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